Encompass More Asset Management Purchases Shares of 21,884 Toast, Inc. $TOST

Encompass More Asset Management acquired a new position in shares of Toast, Inc. (NYSE:TOST) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 21,884 shares of the company’s stock, valued at approximately $799,000.

Other hedge funds have also modified their holdings of the company. RiverPark Advisors LLC acquired a new position in Toast during the 2nd quarter worth $30,000. Ameritas Advisory Services LLC acquired a new stake in Toast in the 2nd quarter valued at about $31,000. REAP Financial Group LLC boosted its stake in shares of Toast by 173.3% in the 2nd quarter. REAP Financial Group LLC now owns 798 shares of the company’s stock valued at $35,000 after buying an additional 506 shares during the period. Loomis Sayles & Co. L P purchased a new position in shares of Toast in the 2nd quarter valued at about $42,000. Finally, Motco acquired a new position in shares of Toast during the second quarter worth about $44,000. 82.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Brian R. Elworthy sold 4,987 shares of the firm’s stock in a transaction that occurred on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $177,337.72. Following the transaction, the general counsel directly owned 227,924 shares in the company, valued at approximately $8,104,977.44. This trade represents a 2.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Stephen Fredette sold 7,550 shares of Toast stock in a transaction on Thursday, October 2nd. The shares were sold at an average price of $35.56, for a total transaction of $268,478.00. Following the completion of the transaction, the president directly owned 898,475 shares in the company, valued at $31,949,771. The trade was a 0.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 49,759 shares of company stock worth $1,769,270 over the last ninety days. 12.14% of the stock is owned by corporate insiders.

Toast Price Performance

NYSE TOST opened at $36.45 on Monday. The firm’s fifty day moving average price is $35.83 and its 200 day moving average price is $40.09. Toast, Inc. has a 12 month low of $28.12 and a 12 month high of $49.66. The company has a market capitalization of $18.77 billion, a price-to-earnings ratio of 84.76 and a beta of 1.94.

Toast (NYSE:TOST) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.08). The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.58 billion. Toast had a net margin of 4.68% and a return on equity of 15.77%. The business’s revenue was up 25.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 EPS. As a group, sell-side analysts forecast that Toast, Inc. will post 0.39 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Truist Financial decreased their price target on shares of Toast from $47.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, November 13th. UBS Group restated a “buy” rating on shares of Toast in a report on Thursday, December 18th. Wolfe Research reaffirmed an “outperform” rating and set a $48.00 price objective on shares of Toast in a research report on Wednesday, November 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of Toast in a report on Monday, December 22nd. Finally, Morgan Stanley raised their price target on Toast from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.18.

Toast Company Profile

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.